Ignoring the Personal Stress of a Key Executive Could Cost You Millions
Executive Summary by Mia Doucet
The personal, emotional struggle of a member of the executive team is a topic that in most boardrooms is not acknowledged, addressed, or open for discussion. It’s one of those proverbial elephants in the room that must remain hidden.
Because the topic is taboo.
But the costs of ignoring the elephant are astronomical.
Personal stress is disruptive to the organization and the consequences can be incalculable. Yet few companies assess the cost of a top manager’s lost effectiveness due to personal distractions. Because personal always bleeds into business.
Excess executive stress has far-reaching consequences. The higher in the organization the problem, the more visibility, the greater the circle of influence, the greater the impact on the viability of a company, the more destructive the stress.
As much as is a huge drain on your company’s revenue, it’s even more dangerous for the person. If your company considers your people your most important asset, this reason alone should compel you to act.
This paper discusses the taboo topic of senior-level stress. It explores the full financial impact on the performance of the business when this issue is not addressed, including the ongoing hidden costs of keeping an underperforming executive. The earlier the intervention the less costly.
You can either ignore the elephant and tolerate the situation, hoping it goes away. Or you can take action: replace the person or clear the problem at its source, without negative consequences to the company or the person.
About the Author
Where other executive consultants advise on business strategy, Mia Doucet specializes in helping key people on the executive team take back control when personal stressors threaten to derail their performance. Her background includes working with Fortune 100 and Fortune 500 managers and teams. Executive coaches and consultants refer her when situations arise that are outside their area of expertise. She is a resource. Not the competition. Mia works from her laptop. She lives in London, Ontario, Canada when it’s warm and spends winters in Venice, Florida, USA. She can be reached directly at http://miadoucet.com/contact/.
If you enjoyed this article, please subscribe to Wray Executive Search Executive Connection. Our monthly newsletter includes industry news, executive movements and thought-provoking articles.